SKF Call Options Sold For 20.6% Profit In 23 hours!
Wednesday, March 25, 2009 at 06:24PM
Gold Prices in Other
SKF Call Options Sold For 20.6% Profit In 23 hours!

On the 03/24/09 at precisely 03:58:26 PM EDT we purchased a short position on the financials, via buying April 2009 $100.00 call options on ProShares UltraShort Financials (SKF) for $16.49, the leveraged inverse financial ETF. At 03:02:02 PM EDT in the next day of trading, we sold these contracts for $19.90, making a profit of 20.06% in just 23 hours.

SKF Call Options Sold For 20.6% Profit In 23 hours

We are very pleased indeed with how this trade worked out, this truly was an exceptional return in such a short space of time.

The chart above shows us closing the position pretty much at the peak of the day, just minutes before the market bottomed. We didn’t know that this was the “top” in SKF for the day, or that the financials would begin to rally minutes after we closed, we simply saw a profit of 20% on the table and decided to take it. When the market offers us such a generous return, we think it is prudent to take that money off the table and bag the profit, so this is exactly what we did.

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These are fast moving markets with tremendous opportunities, as this trade demonstrates.

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